Taxpayers may pay the increased corporate income tax, resulting from the elimination of the inflation adjustment, in six equal installments.

Uruguay has enacted Resolution No. 477/016 (January 28, 2016), allowing taxpayers to pay the increased amount of corporate income tax (CIT) payable due to the elimination of the inflation adjustment in Decree No. 359/015 in six equal and consecutive installments according to the deadlines established by the Tax Office. Taxpayers should pay the first installment on the date the CIT balance is due. The Resolution was published in the Official Gazette on February 1, 2016.

Taxpayers that reduced their advance payments of CIT (and did not consider the elimination of the inflationary adjustment) may pay the difference between the increased CIT and their reduced advance payments in installments.

Installment payments may only be made for advance payments that are overdue on December 30, 2015. Advance payments that are overdue after December 30, 2015 may not be paid in installments.

Taxpayers may make installment payments for advance payments and tax balances corresponding to fiscal years ending from December 31, 2015 through October 31, 2016.

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